Bank of America Corp. began coverage on shares of Zoetis Inc. (NYSE:ZTS) in a research report sent to investors on Thursday morning. The firm issued a buy rating and a $60.00 target price on the stock.
ZTS has been the topic of several other research reports. Jefferies Group reaffirmed a buy rating and set a $60.00 price target on shares of Zoetis in a research report on Wednesday, September 14th. Guggenheim reaffirmed a positive rating and set a $60.00 price target on shares of Zoetis in a research report on Monday, August 22nd. Zacks Investment Research raised Zoetis from a hold rating to a buy rating and set a $53.00 price target on the stock in a research report on Wednesday, June 15th. Citigroup Inc. lifted their price target on Zoetis from $50.00 to $53.00 and gave the stock a neutral rating in a research report on Thursday, August 4th. Finally, Credit Suisse Group AG reaffirmed a focus list rating and set a $60.00 price target on shares of Zoetis in a research report on Wednesday, September 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $55.27.
Zoetis (NYSE:ZTS) opened at 52.36 on Thursday. The stock’s 50 day moving average price is $51.28 and its 200-day moving average price is $48.54. Zoetis has a 12 month low of $38.26 and a 12 month high of $52.64. The stock has a market cap of $25.92 billion, a price-to-earnings ratio of 40.78 and a beta of 1.00.
Zoetis (NYSE:ZTS) last posted its earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The firm earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Zoetis had a return on equity of 77.58% and a net margin of 13.15%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. Equities research analysts predict that Zoetis will post $1.91 EPS for the current year.
In other news, Director Michael B. Mccallister bought 2,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were bought at an average cost of $51.34 per share, for a total transaction of $102,680.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Fenton sold 13,870 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $51.25, for a total value of $710,837.50. Following the sale, the insider now owns 17,719 shares in the company, valued at $908,098.75. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Zoetis by 6.5% in the second quarter. Vanguard Group Inc. now owns 29,819,968 shares of the company’s stock valued at $1,415,256,000 after buying an additional 1,812,428 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Zoetis by 2.7% in the first quarter. Lazard Asset Management LLC now owns 18,464,624 shares of the company’s stock valued at $818,534,000 after buying an additional 478,750 shares in the last quarter. Independent Franchise Partners LLP increased its stake in shares of Zoetis by 1.7% in the second quarter. Independent Franchise Partners LLP now owns 11,183,747 shares of the company’s stock valued at $530,780,000 after buying an additional 188,259 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Zoetis by 0.9% in the second quarter. Principal Financial Group Inc. now owns 9,890,168 shares of the company’s stock valued at $469,388,000 after buying an additional 92,034 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Zoetis by 1.9% in the second quarter. Marshall Wace LLP now owns 9,159,978 shares of the company’s stock valued at $434,733,000 after buying an additional 173,902 shares in the last quarter. Institutional investors own 93.12% of the company’s stock.
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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